WASHINGTON, D.C. — While Donald Trump and MAGA Republicans try to screw over American families with cuts to health care and food assistance programs – all to ram a massive tax break for the wealthy through Congress – Trump is also ensuring that prices are higher across the board with his asinine tariffs and trade wars.
As the ultra-rich eagerly await their latest handout from Trump and Republicans, Trump’s tariffs have caused aluminum and steel prices to skyrocket, U.S. manufacturing to contract for three months in a row, home construction to slow down, and delivery times to go up.
See below for all the ways Trump’s reckless policies have unleashed economic harm on working families and U.S. industries:
- U.S. steel prices skyrocketing as Europe’s goes down: Trump’s 50% steel tariff means that U.S. companies and consumers will pay more for items across the board, while companies in Europe could see their prices go down.
- U.S. families already paying the price: Trump’s pointless trade war has already increased U.S. steel prices, making necessities like appliances and cars more expensive.
- Stocks tumble after Trump’s latest tariff threat: After Trump’s latest tariff announcement, the stock market tumbled again, meaning more disruption and uncertainty for Americans’ retirement savings.
- U.S. manufacturing contracts for third month in a row: Thanks to Trump’s tariffs, U.S. manufacturing has contracted for three months in a row, as suppliers worry about rising delivery times and possible shortages.
- Housing construction plummets, and homeownership still out of reach: Spending on home construction has plummeted, and the number of unsold American homes is rising, as Trump’s tariffs mean homeownership stays out of reach for many families.
Bottom Line: Trump’s economic agenda is creating a rigged economy where his billionaire friends get ahead while hardworking Americans suffer through higher prices, fewer jobs, and crushed dreams of homeownership – all while MAGA Republicans cut the health care and food assistance programs working families need most.